Tue, May 5, 2026
Applied Digital completes ChronoScale cloud business separation via EKSO Bionics merger
Key points
- Contributed Cloud Services (GPU cloud/AI Cloud) business into EKSO Bionics Holdings, which renamed itself ChronoScale Corporation (Nasdaq: CHRN)
- Applied Digital received ~138M shares + invested $15.75M cash for ~1.4M more shares, retaining ~97% ownership at close (later ~96%)
Acquisition
ChronoScale Corporation is the entity formed by contributing Applied Digital's Cloud Services (GPU cloud/AI Cloud) business into EKSO Bionics Holdings via reverse merger.
- Applied Digital received ~138M ChronoScale shares for the contribution plus invested $15.75M cash for ~1.4M more shares, retaining ~97% ownership at close (~96% after subsequent dilution); ChronoScale remains consolidated in Applied Digital's GAAP financials but excluded from non-GAAP metrics